The covid-19 pandemic saw unprecedented numbers of people either being furloughed or working from home. It has certainly given many pause for thought about our working lives. For some, working from home might have suited them down to the ground, others not so much. Maybe you’ve been thinking about trading the office for a life of self-employment.
Many people have thought about this, and are seriously considering starting their own business. Some have lost their jobs during the pandemic and are looking for alternative work and some are simply looking for a more flexible life around their family and other commitments. Whatever the reason, starting a business is a huge step.
Good for business
Before I started my business back in 2007, I had worked for companies of various different sizes and even though I had worked for years in accountancy, I still didn’t know everything when Grant-Jones Accountancy launched. Neither did I have all the skills or knowledge required to run a successful business.
Since 2007, and after many steep learning curves, I’m very proud of the business I have created. I’ve also come to know that businesses have an enormous effect on the people and community around them. They are good for individuals and can raise their self-esteem. They are good for local economies as they bring growth and employment opportunities to an area. They are good for communities when successful businesses offer a service and pay back into the community.
Begin with the end in mind
Starting out by yourself or with someone else can be both scary and exciting. The first question on most people’s minds is “where do I start?” Well, of course, at the beginning.
As author and entrepreneur Stephen R Covey said in his book The Seven Habits of Highly Effective People “Begin with the end in mind.” So, before we get into the nuts and bolts of forming a business, spend some time creating your vision of why you want to go into business for yourself.
Think ahead ten years and ask yourself:
· What sort of life do I want to be living?
· What purpose will my business serve?
· How will it help me, my family, my community and the economy?
· What are the things about my business which will make us special and different and to have an impact?
· What is the legacy I want my business to leave for the world?
You may not have all the answers yet – and don’t worry if you don’t – but forming a clear vision of where you are going is going to help you make the right decisions on how you get your new business started and how you run it.
Help starting out
When it comes to setting yourself up in business, it is worth pointing out that every business will have a different beginning.
So, before you jump in, it’s really important to think about how you will start. From your business structure to your tax year and from your planning and forecasting to credit and insurance, each aspect of your business needs careful consideration.
Getting help and support is vital, but who do you go to? I learned the different elements of my business as I went along. I made some mistakes and I made some good decisions. All have brought me in the end to a successful and growing business.
With all the learning that has led me to this point, I decided to write a book to help people realise their ambitions and to make it easier for the next generation of up-and-coming entrepreneurs and business owners to start with all that knowledge already in the bank.
Over the next few blogs, I’ll be giving you some tips to help you along your journey to starting out on the right foot towards a successful business. But in the meantime, you can download my new ‘The New Business Kit’ eBook by CLICKING HERE.